Understanding Market Processes: An Austrian View of 'Knowing'

Boettke, Peter J.

Understanding Market Processes: An Austrian View of 'Knowing'

Marketing Theory: American Marketing Association Winter Educators' Conference Papers and Proceedings, American Marketing Association, pp. 195-199, 1987

5 Pages Posted: 18 Jan 2010

See all articles by Peter J. Boettke

Peter J. Boettke

George Mason University - Department of Economics; Mercatus Center at George Mason University

Date Written: 1987

Abstract

This paper argues that the approach to economics that is characteristic of Austrian economists emerged out of the interaction of continental thought and classical economics. This approach begins with reflection upon the purposive action of living men, and views the market as an ongoing process of learning and discovery. The paper concludes that Austrian economists, as a result of this process perspective, possess a greater appreciation for, and are able to explain the complex phenomena of social interactions better than the standard Neo-classical economics.

JEL Classification: B53

Suggested Citation: Suggested Citation

Boettke, Peter J. and Boettke, Peter J., Understanding Market Processes: An Austrian View of 'Knowing' (1987). Marketing Theory: American Marketing Association Winter Educators' Conference Papers and Proceedings, American Marketing Association, pp. 195-199, 1987, Available at SSRN: https://ssrn.com/abstract=1530873